Invesco Asia Dragon Trust plc

Invesco Asia Dragon Trust plc is an investment trust focused on delivering long-term capital growth and income through a diversified portfolio of equity securities from companies listed on Asian stock markets, excluding Japan, and including Australasia. It primarily targets undervalued companies with strong earnings growth, attractive valuations, and robust balance sheets featuring net cash positions rather than debt, employing a contrarian, bottom-up investment approach to outperform the MSCI AC Asia ex Japan Index. Key holdings include prominent firms like Taiwan Semiconductor Manufacturing, Tencent Holdings, Samsung Electronics, AIA Group, and HDFC Bank, spanning sectors such as technology (around 32%), financial services (22%), and consumer cyclical (12%), with geographic emphasis on China, Taiwan, South Korea, and India. Managed by Ian Hargreaves and Fiona Yang, the trust maintains approximately 61 equity holdings, uses modest gearing, and commits to enhanced quarterly dividends equivalent to 4% of NAV annually, drawn from revenues and reserves. Launched in 1995 and domiciled in the UK, it provides investors with targeted exposure to Asia's dynamic growth potential across emerging and developed markets in the region.